Bitcoin and Ethereum Fall as US Adds 165,000 Jobs, Shifting Market Sentiment

Following the U.S. non-farm payrolls report this Friday, November 6, the price of Bitcoin and Ethereum fell. The report in question reflected the addition of 165,000 jobs during the month of October. The government report detailed that average hourly earnings increased by 0.4% month-over-month, standing at $38, with an annualized wage growth of 3.1%. Meanwhile, the unemployment rate remained unchanged at 4.1%. After these macroeconomic figures were released, Bitcoin ‘s price retreated 1.1%, touching an intraday low of $74.888 before stabilizing above $75.854. This variation reduced the digital asset’s total market capitalization to $1.524 trillion.